Investments (Tables)

6 Months Ended

Oct. 28, 2011

Information regarding the Company's short-term and long-term investments

			Unrealized		Unrealized
(in millions)	Cost		Gains		Losses		Fair Value
Available-for-sale securities:
Corporate debt securities	$	2,512	$	24	$	(13)	$	2,523
Auction rate securities		167		-		(40)		127
Mortgage-backed securities		933		10		(12)		931
U.S. government and agency securities		2,842		45		(2)		2,885
Foreign government and agency securities		90		1		-		91
Certificates of deposit		97		-		-		97
Other asset-backed securities		437		2		(1)		438
Marketable equity securities		79		111		(26)		164
Trading securities:
Exchange-traded funds		45		1		(2)		44
Cost method, equity method, and other investments		831		-		-		831
Total short-term and long-term investments	$	8,033	$	194	$	(96)	$	8,131

Information regarding the Company's available-for-sale and trading securities

	October 28, 2011				April 29, 2011
(in millions)	Short-term		Long-term		Short-term		Long-term
Available-for-sale securities	$	1,118	$	6,138	$	1,046	$	5,425
Trading securities		-		44		-		39
Total	$	1,118	$	6,182	$	1,046	$	5,464

The gross unrealized losses and fair values of the Company's available-for-sale securities that have been in a continuous unrealized loss position deemed to be temporary for less than 12 months and for more than 12 months, aggregated by investment category

	October 28, 2011
		Less than 12 months			More than 12 months
			Unrealized				Unrealized
(in millions)	Fair Value		Losses		Fair Value		Losses
Corporate debt securities	$	793	$	(10)	$	10	$	(3)
Auction rate securities		-		-		127		(40)
Mortgage-backed securities		308		(3)		62		(9)
U.S. government and agency securities		679		(2)		-		-
Other asset-backed securities		-		-		16		(1)
Marketable equity securities		53		(26)		-		-
Total	$	1,833	$	(41)	$	215	$	(53)

	April 29, 2011
		Less than 12 months			More than 12 months
			Unrealized				Unrealized
(in millions)	Fair Value		Losses		Fair Value		Losses
Corporate debt securities	$	256	$	(1)	$	16	$	(5)
Auction rate securities		-		-		133		(34)
Mortgage-backed securities		161		(1)		67		(7)
U.S. government and agency securities		267		(1)		-		-
Other asset-backed securities		74		(1)		12		(2)
Total	$	758	$	(4)	$	228	$	(48)

Activity related to the Company’s short-term and long-term investment portfolio is as follows:

	Three months ended
	October 28, 2011				October 29, 2010
(in millions)	Debt (a)		Equity (b)(c)		Debt (a)		Equity (b)
Proceeds from sales	$	1,406	$	12	$	1,609	$	-
Gross realized gains		14		50		10		-
Gross realized losses		(5)		-		(3)		-
Impairment losses recognized		-		(4)		(2)		(2)

	Six months ended
	October 28, 2011				October 29, 2010
(in millions)	Debt (a)		Equity (b)(c)		Debt (a)		Equity (b)
Proceeds from sales	$	2,967	$	53	$	2,793	$	-
Gross realized gains		24		55		17		-
Gross realized losses		(7)		-		(7)		-
Impairment losses recognized		(1)		(4)		(5)		(5)

(a) Includes available-for-sale debt securities.
(b) Includes marketable equity securities, cost method, equity method, exchange-traded funds, and other investments.
(c) As a result of the Salient and PEAK acquisitions, the Company recognized a non-cash gain of $38 million during the three months ended October 28, 2011 on its previously held minority investments.

The credit loss portion of other-than-temporary impairments on debt securities held by the Company

	Three months ended
(in millions)	October 28, 2011		October 29, 2010
Beginning Balance	$	20		19
Additional credit losses recognized on securities previously impaired		-		1
Credit losses recognized on securities previously not impaired		-		1
Ending Balance	$	20	$	21

	Six months ended
(in millions)	October 28, 2011		October 29, 2010
Beginning Balance	$	20		17
Additional credit losses recognized on securities previously impaired		-		3
Credit losses recognized on securities previously not impaired		1		2
Reductions for securities sold during the period		(1)		(1)
Ending Balance	$	20	$	21

Schedule of Available-for-sale Securities Contractual Maturities

(in millions)	October 28,
(in millions)	2011
Due in one year or less	$	1,333
Due after one year through five years		4,936
Due after five years through ten years		669
Due after ten years		154
Total debt securities	$	7,092

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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